Sunshine Biopharma, Inc. (NASDAQ:SBFM) Short Interest Down 26.3% in March

Sunshine Biopharma, Inc. (NASDAQ:SBFM) saw a significant decline in short interest during the month of March. As of March 13th, there was short interest totaling 166,389 shares, a decline of 26.3% from the February 26th total of 225,823 shares. Approximately 3.4% of the shares of the stock are short sold. Based on an average trading volume of 45,270 shares, the short-interest ratio is presently 3.7 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sunshine Biopharma in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.00.

Sunshine Biopharma Price Performance

Sunshine Biopharma stock traded up $0.01 during mid-day trading on Friday, hitting $1.02. 27,262 shares of the company were exchanged, compared to its average volume of 36,537. Sunshine Biopharma has a 12-month low of $1.00 and a 12-month high of $3.90. The company has a market capitalization of $5.01 million, a P/E ratio of -1.00 and a beta of 1.51. The business’s 50 day simple moving average is $1.16 and its two-hundred day simple moving average is $1.40.

Institutional Trading of Sunshine Biopharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Two Sigma Investments LP purchased a new position in shares of Sunshine Biopharma during the 3rd quarter worth about $32,000. Virtu Financial LLC purchased a new stake in Sunshine Biopharma in the fourth quarter valued at approximately $29,000. Finally, Citadel Advisors LLC increased its position in Sunshine Biopharma by 23.1% during the third quarter. Citadel Advisors LLC now owns 78,087 shares of the company’s stock worth $116,000 after purchasing an additional 14,656 shares during the last quarter. Hedge funds and other institutional investors own 41.98% of the company’s stock.

About Sunshine Biopharma

Sunshine Biopharma, Inc is a biotechnology company focused on the research, development and commercialization of novel drug candidates primarily for oncology. The company specializes in small-molecule therapeutics designed to overcome multidrug resistance and to target hard-to-treat cancers. Its preclinical pipeline emphasizes compounds that intercalate DNA and inhibit topoisomerase II, with the goal of advancing candidates into clinical trials for various solid tumors.

Among its lead programs, Sunshine Biopharma is advancing anthracycline-based compounds, including Bisantrene, which has demonstrated activity against breast and prostate cancer cell lines, and Adva-27a, a novel analog being evaluated for glioblastoma multiforme and other drug-resistant malignancies.